Oct 4, 2012 4:00pm EDT
for joining us. michael, what do you think was behind today's moves? >> i think it was really from the european union. i don't think it was so much a romney bounce. i think the you're poen union, just like the federal reserve, has now explicitly stated again they're going to put a floor under risk assets. they're going to put a floor under the capital markets. i think that's what's stimulating equities higher. i think that's important to keep in mind. all of the investors piling into fixed income assets, and we are getting more conservative given the rally we've seen, they have to understand that the old expression "don't fight the fed" still applies. not only do we have the fed, we have the bank of japan, china central bank, and the europeans that are going to continue inject adrenaline into economies. >> sandy, is there any reason to believe all of this buying of equities is just what michael said, the central banks of the world and really not based on fundamenta fundamentals, or is this old news at this point that we're going see a contraction in third quarter earnings as these
Oct 5, 2012 4:00pm EDT
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